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Update: Analog Devices Shares Fall After Fiscal Q2 Results

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(Updates with the latest stock movement in the first paragraph and headline.)

Analog Devices (ADI) shares were down about 4.5% in Wednesday trading after the company reported fiscal Q2 results.

The company reported fiscal Q2 adjusted earnings of $3.09 per diluted share, up from $1.85 a year earlier.

Analysts surveyed by FactSet expected $2.88.

Revenue for the quarter ended May 2 was $3.62 billion, compared with $2.64 billion a year earlier.

Analysts polled by FactSet expected $3.51 billion.

For fiscal Q3, adjusted EPS is projected to be $3.30, plus or minus $0.15. Analysts surveyed by FactSet expect $2.99.

Revenue for the fiscal quarter is expected to be $3.9 billion, plus or minus $100 million. Analysts polled by FactSet expect $3.61 billion.

Price: $395.54, Change: $-18.77, Percent Change: -4.53%

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